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Infos Business of Friday, 29 August 2014

Source: APA

A drastic fall in Cameroon-Nigeria trade envisaged

The economic and commercial exchanges between Cameroon and Nigeria that culminate at 382 billion francs CFA per year could fall this year because of insecurity maintained by the Nigerian Islamist sect Boko Haram, and the closure of borders by Cameroon because of the Ebola epidemic which is rife in neighbouring Nigeria.

According to the Cameroonian Ministry of trade, this situation could lead to the reactivation of smuggling, because it is true that it is difficult to secure an over 1500 Km border shared by the two countries.

On August 18, 2014,a declaration was made in order to guard against the outbreak of Ebola, which is rife in West Africa and whose cases have been reported in Nigeria, the Cameroonian authorities decided to close the borders with the first economy of the African continent.

With a market of approximately 170 million consumers, Nigeria is the leading provider of Cameroon with nearly 22 percent of imports.